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Morningstar Assigns New Analyst Ratings to Three U.S. Funds; Upgrades Eight Funds; Downgrades Ten Funds in April 2018
[May 16, 2018]

Morningstar Assigns New Analyst Ratings to Three U.S. Funds; Upgrades Eight Funds; Downgrades Ten Funds in April 2018


CHICAGO, May 16, 2018 /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, has published a summary of Morningstar Analyst Rating™ activity for 166 U.S. open-end mutual funds and exchange-traded funds (ETFs) and three target-date series that occurred in April 2018. The Morningstar Analyst Rating for funds represents Morningstar's conviction in the fund's ability to outperform on a risk-adjusted basis over the long term. The five-tiered, qualitative Morningstar Analyst Rating scale has three positive levels, indicating Morningstar Medalists—Gold, Silver, and Bronze—in addition to Neutral and Negative ratings.

In April, Morningstar's Manager Research Group assigned new ratings to three funds. In addition, analysts upgraded ratings for eight funds, downgraded ratings for ten funds, affirmed ratings for 139 funds and three target-date series, and placed three funds under review.

As of April 30, 2018, Morningstar analysts had assigned a Morningstar Analyst Rating of Gold to 158 unique U.S. funds, a Silver rating to 326 funds, a Bronze rating to 581 funds, a Neutral rating to 686 funds, and a Negative rating to 19 funds. Morningstar Medalists currently account for approximately six percent of unique mutual funds available for sale in the United States and 70 percent of assets under management. Morningstar's manager research analysts rate approximately $12.8 trillion of U.S. investor assets, or approximately 62 percent of total investor assets in the United States.

The following Morningstar Analyst Rating changes occurred in April 2018:






Previous Morningstar
Analyst Rating

Current Morningstar
Analyst Rating

New Ratings



AB FlexFee Large Cap Growth Advisor

None

Neutral

BlackRock Event Driven Equity

None

Bronze

TCW Emerging Markets Local Currency

None

Bronze




Upgrades



Artisan Global Value Investor

Silver

Gold

Buffalo Discovery

Neutral

Bronze

Fidelity Advisor Industrials

Neutral

Bronze

Fidelity Select Industrials

Neutral

Bronze

PIMCO Total Return

Silver

Gold

Prudential Short Duration High Yield

Neutral

Bronze

T. Rowe Price QM US Small-Cap Growth

Silver

Gold

Victory Sycamore Established Value

Bronze

Silver




Downgrades



Ariel Appreciation Investor

Bronze

Neutral

Columbia Floating Rate

Under Review

Neutral

Fidelity China Region

Bronze

Neutral

iShares Currency Hedged MSCI Eurozone ETF

Bronze

Neutral

iShares MSCI Eurozone ETF

Bronze

Neutral

Ivy Large Cap Growth

Bronze

Neutral

Ivy Mid Cap Growth

Bronze

Neutral

Vanguard Intermediate-Term Investment-Grade

Silver

Bronze

Vanguard Short-Term Investment-Grade

Silver

Bronze

Xtrackers MSCI Japan Hedged Equity ETF

Bronze

Neutral




Under Review



American Century Large Company Value

Neutral

Under Review

Oppenheimer Global

Silver

Under Review

VY Oppenheimer Global

Silver

Under Review


A list of the Analyst Ratings for 139 U.S. funds and three target-date series that Morningstar affirmed in April is available here.

A summary of last month's Morningstar Analyst Rating changes for U.S. and Canada funds is available on Morningstar.com in the latest Fund Spy: Medalist Edition here.

Morningstar launched its Analyst Rating for funds and Global Fund Reports in December 2011. Morningstar Medalists—Gold-, Silver-, and Bronze-rated funds—are funds that analysts determine are likely to outperform their peer groups and/or relevant benchmarks on a risk-adjusted basis over a market cycle of at least five years. The differences between the positive ratings indicate the level of the analyst's conviction in a fund's future performance. Analysts arrive at a rating through an evaluation of five key pillars: People, Process, Parent, Performance, and Price. The Analyst Rating methodology for mutual funds is available here and for ETFs here.

To view a complete list and supporting analysis for Analyst Ratings for U.S. funds, please visit www.morningstar.com. Premium Members have access to a Morningstar Medalists screener, where users can sort funds by Morningstar Rating, Morningstar Analyst Rating, Fund Family, Manager Tenure, Expense Ratio, and other metrics. Morningstar's Global Fund Reports, in-depth research reports that include a wealth of data and analysis, are available in Morningstar DirectSM, the company's web-based global investment analysis platform for institutional investors, and in Morningstar OfficeSM, a global practice and portfolio management solution for advisors.

Morningstar has approximately 120 manager research analysts worldwide who cover approximately 4,500 funds. The company provides data on approximately 233,200 open-end mutual funds, 11,100 closed-end funds, and 15,000 exchange-traded product listings as of March 31, 2018.

About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $201 billion in assets under advisement and management as of March 31, 2018. The company has operations in 27 countries.

Morningstar's Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC. Analyst Ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst Ratings are based on Morningstar's Manager Research Group's current expectations about future events and therefore involve unknown risks and uncertainties that may cause such expectations not to occur or to differ significantly from what was expected. Analyst Ratings are not guarantees nor should they be viewed as an assessment of a fund's or the fund's underlying securities' creditworthiness. This press release is for informational purposes only; references to securities in this press release should not be considered an offer or solicitation to buy or sell the securities.

©2018 Morningstar, Inc. All rights reserved.

MORN-R

Media Contact:
Sarah Wirth, +1 312 244-7358 or sarah.wirth@morningstar.com

Morningstar logo (PRNewsFoto/Morningstar Research Inc.) (PRNewsfoto/Morningstar, Inc.)

 

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SOURCE Morningstar, Inc.


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